Teledyne Technologies (NYSE:TDY) Lifted to “Buy” at StockNews.com

Teledyne Technologies (NYSE:TDYGet Free Report) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Monday.

TDY has been the topic of several other reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $455.00 target price on shares of Teledyne Technologies in a research report on Tuesday, October 24th. The Goldman Sachs Group raised Teledyne Technologies from a “neutral” rating to a “buy” rating and increased their target price for the stock from $423.00 to $495.00 in a research report on Monday, August 14th. UBS Group assumed coverage on Teledyne Technologies in a research report on Wednesday, September 27th. They issued a “buy” rating and a $495.00 target price on the stock. Finally, BNP Paribas assumed coverage on Teledyne Technologies in a research report on Thursday, October 5th. They issued an “outperform” rating and a $530.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $503.86.

Get Our Latest Report on TDY

Teledyne Technologies Stock Performance

Shares of TDY stock traded up $0.49 on Monday, hitting $390.98. 165,670 shares of the stock traded hands, compared to its average volume of 240,275. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.68 and a quick ratio of 1.10. The company has a market capitalization of $18.45 billion, a PE ratio of 23.71, a PEG ratio of 2.51 and a beta of 1.02. Teledyne Technologies has a 1-year low of $364.98 and a 1-year high of $448.71. The company’s fifty day moving average is $397.09 and its 200 day moving average is $401.41.

Teledyne Technologies (NYSE:TDYGet Free Report) last posted its quarterly earnings results on Wednesday, October 25th. The scientific and technical instruments company reported $5.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.76 by $0.29. The business had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.43 billion. Teledyne Technologies had a return on equity of 10.86% and a net margin of 14.02%. The business’s revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the company posted $4.54 EPS. On average, equities research analysts predict that Teledyne Technologies will post 19.31 earnings per share for the current fiscal year.

Insider Activity at Teledyne Technologies

In related news, Director Michael T. Smith sold 1,071 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $395.00, for a total transaction of $423,045.00. Following the completion of the transaction, the director now owns 56,492 shares of the company’s stock, valued at $22,314,340. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Michael T. Smith sold 1,071 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $395.00, for a total transaction of $423,045.00. Following the completion of the transaction, the director now owns 56,492 shares of the company’s stock, valued at $22,314,340. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Robert Mehrabian sold 45,500 shares of the firm’s stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $416.13, for a total value of $18,933,915.00. Following the transaction, the chief executive officer now directly owns 196,052 shares of the company’s stock, valued at approximately $81,583,118.76. The disclosure for this sale can be found here. Insiders sold 62,717 shares of company stock valued at $26,140,340 over the last 90 days. 2.14% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Teledyne Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of TDY. Aristotle Capital Management LLC acquired a new position in shares of Teledyne Technologies in the 3rd quarter valued at about $698,325,000. Envestnet Asset Management Inc. increased its stake in Teledyne Technologies by 2,240.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 1,465,581 shares of the scientific and technical instruments company’s stock valued at $26,033,000 after buying an additional 1,402,965 shares during the period. Norges Bank purchased a new stake in Teledyne Technologies in the 4th quarter worth approximately $166,954,000. Point72 Asset Management L.P. boosted its stake in shares of Teledyne Technologies by 2,227.3% during the 2nd quarter. Point72 Asset Management L.P. now owns 317,251 shares of the scientific and technical instruments company’s stock valued at $130,425,000 after buying an additional 303,619 shares during the period. Finally, Durable Capital Partners LP purchased a new position in shares of Teledyne Technologies during the 1st quarter valued at $140,332,000. Institutional investors and hedge funds own 87.57% of the company’s stock.

Teledyne Technologies Company Profile

(Get Free Report)

Teledyne Technologies Incorporated, together with its subsidiaries, provides enabling technologies for industrial growth markets in the United States, Canada, the United Kingdom, France, and internationally. The company's Instrumentation segment offers monitoring and control instruments for marine, environmental, industrial, and other applications, as well as electronic test and measurement equipment; and power and communications connectivity devices for distributed instrumentation systems and sensor networks.

Featured Articles

Analyst Recommendations for Teledyne Technologies (NYSE:TDY)

Receive News & Ratings for Teledyne Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Teledyne Technologies and related companies with MarketBeat.com's FREE daily email newsletter.